All Money to the Top
By At the 25 public universities with the highest-paid presidents, both student debt and the use of part-time adjunct faculty grew far faster than at the average state university from 2005 to 2012, according to a new study by the Institute for Policy Studies, a left-leaning Washington research group.
The study, “The One Percent at State U: How University Presidents Profit from Rising Student Debt and Low-Wage Faculty Labor,” examined the relationship between executive pay, student debt and low-wage faculty labor at the 25 top-paying public universities.
The co-authors, Andrew Erwin and Marjorie Wood, found that administrative expenditures at the highest-paying universities outpaced spending on scholarships by more than 2 to 1. And while adjunct faculty members became more numerous at the 25 universities, the share of permanent faculty declined drastically.
“The high executive pay obviously isn’t the direct cause of higher student debt, or cuts in labor spending,” Ms. Wood said. “But if you think about it in terms of the allocation of resources, it does seem to be the tip of a very large iceberg, with universities that have top-heavy executive spending also having more adjuncts, more tuition increases and more administrative spending.”
Why, it’s almost like university administrators advance their careers on undermining tenure-track faculty, expanding administrative spending, and forcing their students into debt while acquiring outsized salaries for themselves! In other words, for everyone who says we need to run higher education like a corporation, that’s exactly what’s happening.